Quantbot Technologies LP Makes New Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Quantbot Technologies LP acquired a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,054 shares of the company's stock, valued at approximately $1,533,000.

A number of other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its position in Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Penske Automotive Group during the fourth quarter valued at $40,000. True Wealth Design LLC raised its holdings in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company's stock valued at $73,000 after purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. raised its holdings in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock valued at $74,000 after buying an additional 453 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Penske Automotive Group in the third quarter worth about $94,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Insider Activity at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now directly owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Barr sold 1,529 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

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Penske Automotive Group Stock Performance

PAG traded down $3.47 during trading on Friday, reaching $140.99. 434,591 shares of the company's stock were exchanged, compared to its average volume of 186,698. The company has a market capitalization of $9.41 billion, a P/E ratio of 10.25 and a beta of 1.24. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $162.15 and a 200 day moving average price of $159.34. Penske Automotive Group, Inc. has a fifty-two week low of $139.56 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PAG shares. StockNews.com upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday. Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating on the stock. Finally, Stephens reissued an "equal weight" rating and issued a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $166.25.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.